Volcano develops, manufactures and commercializes a broad suite of intravascular ultrasound (IVUS) and functional measurement (FM) products that aid in the diagnosis and treatment of vascular and structural heart disease. It has been reported that over 70 million people in the United States have cardiovascular disease. Vascular disease, or atherosclerosis, is caused by the accumulation of fat-laden cells in the inner lining of the artery, leading to the formation of plaque or lesions. Accumulation of plaque in the arteries narrows the diameter of the inner channel of the artery, or the lumen, which reduces blood flow.
Volcano Corporation Expects to Exceed Previously-Announced Revenue Guidance for Fiscal 2006
RANCHO CORDOVA, Calif., Jan. 10 /PRNewswire-FirstCall/ -- Volcano Corporation (Nasdaq: VOLC), a provider of intravascular ultrasound (IVUS) and functional measurement (FM) products designed to enhance the diagnosis and treatment of vascular and structural heart diseases, said today that it expects fiscal 2006 revenues to be approximately $103 million and revenues for the fourth quarter of 2006 to be approximately $29 million. This compares with prior revenue guidance given on November 1, 2006 for fiscal 2006 revenues of $98 million. These results reflect year-over-year revenue growth of approximately 12 percent and 20 percent for the full year and fourth quarter of 2006, respectively.
The company said that it was providing the updated 2006 revenue projection in advance of company meetings with the investment community and a presentation at the JP Morgan Healthcare Conference on Thursday, January 11. Further details of the company's fourth quarter and full-year operating and financial performance will be released later this quarter, which will be followed by a conference call and web cast open to all interested parties. Details of the earnings release date, conference call and web cast will be provided in a subsequent release.
As previously announced, Scott Huennekens, president and chief executive officer, will be speaking about the company at the JP Morgan Healthcare Conference, beginning tomorrow at 8 a.m., Pacific Standard Time (11 a.m., Eastern Standard Time). The presentation will be available through https://events.jpmorgan.com
and via the company's website at www.volcanocorp.com.
Volcano Corporation offers a broad suite of devices that facilitate endovascular procedures, enhance the diagnosis of vascular and structural heart diseases and guide optimal therapies. The company's intravascular (IVUS) product line includes ultrasound consoles that can be integrated directly into virtually any modern cath lab and single-use phased array and rotational IVUS imaging catheters. Volcano also has unique advanced functionality options such as VH tissue characterization and IVUS and angiography co-registration. Volcano also provides functional measurement (FM) consoles and single-use pressure and flow guide wires. Currently, more than 2,300 Volcano IVUS and FM systems are installed worldwide, with approximately half of its revenues coming from outside the United States. For more information, visit the company's website at www.volcanocorp.com
GE Healthcare and Volcano Corporation Announce World's First Installation of Innova IVUS and Plans to Enable All Future U.S. Innova Labs to Be IVUS Ready
Shares Outstanding: 33.08M